Venetian To Add Hotel Rooms and Parking Spaces
VEGAS, NV - Las Vegas Sands, Inc., owner and operator of The
Venetian Casino Resort, announced during its recent earning
conference on July 26 tentative plans to finance the construction
of a 1,000-room addition and 800 parking space addition to the Venetian
an indirect, wholly owned subsidiary of the Company, which is the
owner of approximately 15 acres of land adjacent to The
Venetian, will construct 150,000 square feet of conference center
space on land owned by the Phase II Subsidiary, which will be leased
by the Phase II Subsidiary to The
Venetian. The new 1,000-room hotel tower will be built by The
Venetian and owned and operated by a newly created subsidiary
with the two projects, the current owner and operator of The
Venetian heating, ventilating and air conditioning plant, HVAC
Provider, has tentatively agreed to construct, own and operate,
a $60 million expansion to its HVAC and related equipment facility,
to provide via an energy services agreement, heating, cooling and
related services to the new hotel tower and conference center space.
based on current information, estimates the 1,000-room hotel addition
and parking garage addition cost to total approximately $155 million,
excluding the HVAC Provider project, financing and pre-opening costs.
further estimates the conference center space project cost to total
approximately $30 million, excluding the HVAC Provider project.
The Phase II
Subsidiary's $80 million credit facility will be secured by all
of the Phase II Land, the Phase II Subsidiary's interest as landlord
under the conference center lease, and the non-recourse loan to
the Phase 1-A Subsidiary.
Rock Hotel & Casino
Launches Play-For-Fun Casino Site
NV - /Winner Online/ - A growing number of land-based Vegas
casinos are going online by launching play-for-fun sites.
look a lot like real-money sites, but don't accept wagers.
That's not a problem for these casinos, however; the goal
of these sites isn't to make money. The casinos are much more
interested in establishing an online gaming presence and loyal
customer base, with the hope that Nevada will eventually legalize
and Harrah's are already running free sites, and other casino
giants are joining that exclusive club. This week, the Hard
Rock Hotel and Casino of Las Vegas launched its own play-for-fun
which was developed by dot com Entertainment Group, gives
players a choice of play-for-fun Slots, Roulette, Video Poker,
Craps, Blackjack, Caribbean Poker and Table Poker.
can enjoy better-than-average Java (no-download) games that
are branded with the Hard
Rock name. The games have a 'Vegas' look and feel to them,
which means players will find a lot of pinks, turquoise blues,
and purples on the tables.
dot com's first deal with a land-based Vegas casino, and that
could possibly pave the way for future partnerships - especially
if online gambling gets the green light in the Silver State.
Other gaming software companies are likely to be working on
their own Vegas deals at this time.
however, the Hard
Rock got its foot in the Internet casino door before most
of the other big Vegas casinos. The brand recognition of the
Rock name will undoubtedly attract customers and that
strong market share, along with the casino's position as one
of the first Vegas casinos to go online, could translate into
big money - provided real-money wagering gets approval.